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March 13, 2007

2006 Operating Report

The largest Russian payment system, CyberPlat®, has again proved its incontestable leadership in the cash payment acceptance sector.

Financial Performance

In 2006, the total turnover of the CyberPlat® cash acceptance network reached 2 billion 639 million US dollars. Hence, the CyberPlat® Company has not only proved but reinforced its status of the largest payment system of Russia. The CyberPlat® cash acceptance network collects more than 20% of the turnover of all Russian cellular communication operators, being the largest partner of Beeline, MTS and Megaphone in the volume of accepted subscriber payments.

According to statistics, 96% of CyberPlat®’s annual turnover is accounted for by the payments accepted from the subscribers of mobile operators, 1% – from subscribers of commercial television. The remaining 3% are payments for fixed-line communication, security alarm systems, communal services, Internet access and retail loan repayments. Created in 1997, CyberPlat® has been the first among Russian payment systems. The first online payment was executed on March 18, 1998 for the benefit of the Garant-Park.

Company, and the first cellular communication operator – Beeline – received the initial payment on August 12, 1998. The accession of CyberPlat® to the World GSM Association has become a well-earned acknowledgement of the high quality of services and the Company’s contribution to the development of the national cellular communication market.

Transactions

In 2006, 669 million payments were processed via the CyberPlat® broad-based cash acceptance network, and by the year end a threshold of 3 million payments a day was crossed. Currently, by the volume of daily processed payments, CyberPlat® is the country’s largest payment system, which, according to expert estimations, exceeds the Central Bank of the Russian Federation in the number of transactions. It is noteworthy that payment operation processing in CyberPlat® is performed in the online mode and takes not more than 2 seconds per one transaction.

In the December of the last year alone, the system processed almost 84 million payments with the total amount of 319 million US dollars. Such a volume of operations in Russia, with the population of 142 million, means that nowadays over half of the Russian population use the services of the CyberPlat® cash acceptance network.

International business

The CyberPlat® Company is successfully developing and spreading its business in the territory of the Republic of Kazakhstan, within the framework of its full-scale program of international expansion. A Kazakhstan subsidiary company – CyberPlat®-Kazakhstan LLC – was in incorporated as early as on March 15, 2005; and by the end of 2006 the cash payment acceptance network in the Kazakhstan territory comprised over 2500 points. The client list of the CyberPlat® cash acceptance networks as well includes longstanding Russian partners – Euroset and Dixis. The strongest local market players joined them: Mzone cellular communication shops, NTN, Orbita-Telecom, Sim-Mobile, Sulpak consumer electronics retail chain, and many others. As early as today, the terminal networks of the Russian partners – Electropay and Multikassa – are connected to the CyberPlat® system. A partner project with Kazpost JSC, comprising over 3000 offices, is developing at an accelerating pace. That creates ultimately comfortable conditions for the population – regular payments can already be made in the entire territory of Kazakhstan.

In 2006, within the framework of the international development program, a representative office of the CyberPlat® cash acceptance network was opened and began operating in Ukraine. A similar project is being launched in Uzbekistan.

Payment acceptance network

The total number of payment acceptance outlets of the CyberPlat® system increased more than two-fold in 2006, and by the beginning of 2007 comprised over 38 500. This sustainable and dynamic business growth was achieved by connecting new payment terminal networks, retail and dealer companies, as well as branches of various banks. Particularly, in 2006 Promsvyazbank, Expobank, Transcapitalbank, Omskpromstroibank, Gazenergobank, Trust Republic Bank and other credit institutions became participants of the CyberPlat® payment system.

CyberPlat® payment system has proved its unconditional leadership in its market segment. The successful operation of the Russian leading payment system during the past years has been repeatedly marked by diplomas and awards from the top communications operators.

Based on the results of cooperation in 2006, Beeline awarded CyberPlat® for the leading position in the volumes of accepted payments in Russia, yet again testifying to the high achievements of the electronic payment system.

MegaFon awarded CyberPlat® payment system with an honorary diploma for the greatest contribution to MegaFon’s “money box”. The record volumes of payments accepted from the subscribers of Beeline, MTS, and MegaFon are the most unbiased evidence of’the service quality ensured by CyberPlat®.

In 2006, the large federal mobile communication brand stores continued successful partnership with CyberPlat® cash acceptance network – Svyaznoy, Dixis, Euroset, Tsifrograd, Beta Link, Ultra Star; electronics store networks – Eldorado, Mir, White Wind, and many others. The largest Siberian supermarket chain, ALPI, joined forces with CyberPlat® in launching a cooperative project for payment acceptance via its store cash registers.

Particular attention should be paid to the advancement of a global joint project of the Post of Russia and CyberPlat® in accepting cash payments from the general public in the widest Russian post-office network. The number of regions of the Russian Federation, where payments are currently accepted in post-offices, has increased from 44 to 58.

It is noteworthy that CyberPlat® cash acceptance network partners with preeminently large companies maintaining steady turnover growth and a high level of technological and corporate culture – whether retail and terminal chains, or companies specializing in mobile communication services, commercial television, telecommunication and provider services.

Providers

In 2006, CyberPlat® took new opportunities in the payment acceptance market and significantly increased the number of payment gateways to the billing systems of different service providers. Particularly, CenterTelecom OJSC, Dalsvyaz OJSC, ZAO Kodotel, ZAO Akos and many others were connected to the CyberPlat® cash acceptance network. An absolutely new type of services was launched in the accounting period – subscriber payment acceptance for the use of satellite and radio-search car anti-theft systems, Cesar Satellite and AutoLocator, as well as for Internet Location.

Following a leadership strategy in the payment acceptance market, CyberPlat® system has launched a project of accepting payments for communal services, including electricity bills in a number of the largest regions of Russia. In particular, communal payment acceptance in sales and service outlets of retail chains has been implemented in Saint-Petersburg, Yekaterinburg and Penza.

Terminal business

Due to various reasons, 2006 became a year of active development in the market of payment acceptance via self-service terminals. For the past year, CyberPlat® had developed and debugged pre-processing software enabling remote monitoring of terminal network functioning, as well terminal end software having the leading position in the market. New software developments for the CyberPlat® payment terminals ensure unique functional capabilities and high reliability.

Alongside other advantages, the most important ones are universality, simplicity of installing and running the software. The new version of the software allows running terminals in alternative modes. The function of switching between the full on-line and off-line modes of payment acceptance allows both executing instant payments in real time mode and payment acceptance with deferred crediting recipient accounts in case of temporary absence of communication between the terminal and the processing center. When the terminal operates in the online mode, errors in crediting personal accounts are eliminated by using a two-step algorithm of number verification. Off-line operation allows servicing clients even when communication is temporarily broken and online operation is impossible.

A crucial function implemented in the new software is the possibility of adding local operators. The user of the CyberPlat®’s terminal software is able to connect any number of local providers to payment acceptance.

The functional advantages of the new software are organically complemented by the online system of technical monitoring and terminal control, user-friendly interface and setup flexibility. The newly developed software supports a wide range of hardware, including various bill acceptors and thermal printers, and is supported by the majority of the leading payment terminal producers.

In 2006, a number of the Russian terminal chains successfully used CyberPlat®’s technological developments. In particular, Euroset joined forces with the cash acceptance network to implement a project of installation of payment terminals using CyberPlat® processing, in the retailer’s salons. During 2006, within the framework of the joint project with Euroset, over 200 payment terminals were set in various locations, including Domodedovo international airport and Ashan hypermarket chain; in 2007 their number should increase ten-fold.

In the accounting year, CyberPlat® supported a proposition of the Unicum group of companies to commence manufacturing of fail-safe terminals under the CyberPlat® brand name. Fail-safe software, purpose adapted to various configurations of payment terminals, will be installed on all devices manufactured by the Unicum group of companies.

CyberPlat®’s terminal business in Kazakhstan saw active development in 2006. Particularly, within the framework of a global partnership with Beeline, there was implemented a project of installing CyberPlat® terminals in the operator’s sales offices in the entire territory of Kazakhstan.

Technological and financial innovations

In 2006, CyberPlat® opened the source codes of its programs to all interested parties. From that moment, CyberPlat®’s partners received access to the source codes of CyberPlat®’s client applications for mobile phones, pocket PCs and payment terminals. Open source codes allow adjusting software applications to various user requirements. The software applications with open source codes and their capabilities are available for familiarization at http://www.cyberplat.ru/agent/soft.htm.

Due to this innovation, the system’s dealers are able to adjust CyberPlat®’s applications for their integration into their accounting systems, business management systems, accounting systems, etc. That provides additional flexibility to CyberPlat®’s solutions and ensures their complete integration into partners’ business processes.

Today, the development of information technologies is to a significant extent determined by open source applications. “Applications with the open source codes are the future of information technology industry. We are confident that our common work with our partners in optimizing and adjusting CyberPlat®’s solutions will make our services all the more convenient and called for by the market,” Andrey Gribov, General Director of CYBERPLAT.COM, commented.

In the accounting period, CyberPlat® developed a number of software products, expanding capabilities of its partners for payment acceptance in the retail outlets not equipped with computers and fixed-line communication. Particularly, in 2006 a software module – CyberplatMobile – ensuring payment acceptance by means of a mobile handset: http://www.cyberplat.ru/agent/soft.htm.

Particular attention was allocated to the development of software for various types of POS-terminals – there was implemented technological integration of Sagem and Shtrikh-M terminals with CyberPlat®’s processing.

In 2006 CyberPlat® designed a unique technology ensuring generating and signing, with Electronic Digital Signature, documents of any format directly in a mobile handset. The technology makes telephone handsets fully sufficient for generating payment orders, thus ensuring significant comfort in conducting business. Due to Electronic Digital Signature of the 512-bit key length integrated into the program, the documents, created with it and sent to an addressee, possess full legal power, are accepted by Russian courts and are irrefutable. Unlike other systems, CyberPlat® has relevant licenses of the Federal Security Service of Russia, Federal Agency of Technical and Export Control, and other authorities.

The new technology can be used in executing payments, invoking requests for issuing bank statements, foreign currency exchange and stock operations, signing various documents and for many other purposes.

This development of CyberPlat® makes a new step in promoting workflow ergonomics, conducting transactions, etc. For example, the program makes a mobile handset and a cash register completely sufficient for accepting payments from private individuals. At that the transactions, performed with the software, are executed in the online mode and take several seconds, including number verification. For the past year, the system of automatic registration was simplified for users’ convenience; that allows becoming a participant of the CyberPlat® payment system in less than 5 minutes, by registering at http://www.cyberplat.ru/agent/conn.htm . Each participant of the payment system, registered at the site, is credited with 100 rubles to test the connection quality.

Additionally, the scale of such a service as short-term crediting of CyberPlat®’s partners was expanded, that allows the dealers to continue accepting payments when funds on their accounts are overdrafted. That provides additional convenience for the partners of the system, and allows increasing the profit even with the deficit of floating funds.

Regional development

Particular attention was allocated to the maximum expansion of regional presence of the CyberPlat® cash acceptance network. New projects of organizing payment acceptance in the entire territory of Russia were launched. Currently, CyberPlat® is the most widely used technology for collecting earning in the prevalent majority of large and mid-size cities in all Federal districts. To expedite interaction with clients, as well as for increasing the market share and developing regional business, in 2006 CyberPlat®’s regional representative offices were established in five Federal districts. CyberPlat®’s representative offices promote the company’s business in the North-West, Urals, Central, Southern and Privolzhye Federal districts.

In 2006, the CyberPlat® payment system launched a Regional Representative Program, oriented to forming a regional network of partners who will be attracting new dealers. The CyberPlat®’s Regional Representative Program is in line with the strategy of expeditious development of the regional network. The Program made earning profit much easier – dealers do not have to visit the Moscow office of the company. Registration is available at the company’s Internet site (http://www.cyberplat.ru/agent/predstavitel.htm), or by telephone.
Due to this advanced technological solution, high security level of transaction processing, and its long experience in electronic financial settlements, CyberPlat® was able to occupy a dominant position among Russian payment systems.

Electronic technologies, modern and convenient for partners, guaranteeing high speed as well as safety of transactions, secured by the electronic digital signature, comfortable financial terms including a possibility of crediting against payment acceptance – all that makes CyberPlat® quite an attractive business partner for the leading Russian companies.

The company’s General Director, Andrey Gribov remarked: “The past year was characterized by a significant growth of the client base, large-scale implementation of innovative technologies and significant rise in the network’s payment turnover. Offering reliable high-tech services and quality payment facility to clients, the CyberPlat® Company reinforced its leading standing in the market of electronic payments.”


 
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